6538 Posted November 16, 2008 Share Posted November 16, 2008 The point made here was to ask the bank to confirm sufficient funds - not ask them to confirm what you're going to use the money for.......... But that only partially solves the original problem. The bank can confirm that you have the money in your account today but it dosen't mean that you won't end up getting a loan for the property when it completes in 8-12 weeks time so dosen't actually prove you are a cash buyer. A letter from your solicitor saying that you intend to purchase with cash woud be preferable, I would imagine. Quote Link to comment Share on other sites More sharing options...
silver surfer Posted November 16, 2008 Share Posted November 16, 2008 EA phoned up just now so I did my usual schtick, total cash buyer no unrealistic sellers please.She came out with the line that there where loads of cash buyers in the market at the moment so I'm nothing special (well that was the implication rather than the actual words). Anyone come across this line before? I'm a cash buyer. EA's think I'm very, very special...until I tell them that I'm looking to pay 2003/4 prices. I don't think I'll have to wait too long. I'm now regularly seeing properties available at 2005 prices, and these are four and five bedroom detached houses in Sussex and Hampshire rather than city centre flats. I think we'll see 2004 prices available when the 2009 "spring bounce" evaporates under a flood of rising unemployment news. It's increasingly clear that EA's realise that unless they can complete a few transactions then they'll have to find a new career, and in their more cogent moments they recognise this basically means persauding their vendors to accept lower offers. When I ask EA's why they keep so many "no hope" properties on their books, they say they're only there to keep their "For Sale" signs prominent in the area, and they don't seriously expect to sell any of them. Quote Link to comment Share on other sites More sharing options...
IP Newcomer Posted November 16, 2008 Author Share Posted November 16, 2008 Congratulate her on the plethora of cash buyers, say "I'm sure one will buy the place" and then hang up. I usually come out with a variant of that when I hear about another person who's put in a proceedable offer, "I'd go with them then". However, this is Abbotts in Ipswich and they do try all sorts of tricks (including trying to get me to gazump at one time). Quote Link to comment Share on other sites More sharing options...
blankster Posted November 16, 2008 Share Posted November 16, 2008 I told him rents won't look like much of a return if property values fall by a half. He just laughed. That's just an old fashioned view, in the same wasy as 'gentlemen' buy shares for the dividend income, not for vulgar capital gain! Quote Link to comment Share on other sites More sharing options...
LuckyOne Posted November 16, 2008 Share Posted November 16, 2008 That's just an old fashioned view, in the same wasy as 'gentlemen' buy shares for the dividend income, not for vulgar capital gain! I thought that gentlemen preferred bonds ....... Quote Link to comment Share on other sites More sharing options...
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